Ben Francis, the founder of Gymshark, has sold a significant stake in the sportswear brand to a US private equity firm, in a deal that values the company at $1.5 billion. The transaction underscores the continued growth and global appeal of the fitness apparel brand, which started as a small operation in Francis's parents' garage in Birmingham, England.
Details of the Deal
The private equity firm, which has not been named in the initial announcement, has acquired a minority stake from Francis, who retains a controlling interest and will remain as chief executive. The deal is expected to provide capital for Gymshark's expansion into new markets and product categories, as well as to strengthen its digital and supply chain capabilities.
According to sources familiar with the matter, the valuation of $1.5 billion represents a significant increase from the company's previous valuation of $1.3 billion in 2020, when it secured investment from the private equity firm General Atlantic. Francis, who founded Gymshark in 2012 at the age of 19, is estimated to be worth over $1 billion following the transaction.
Gymshark's Growth Trajectory
Gymshark has experienced explosive growth over the past decade, driven by a strong social media presence and partnerships with fitness influencers. The brand has expanded from a small online retailer to a global phenomenon, with a presence in over 200 countries and a loyal customer base among gym-goers and athletes.
In a statement, Francis said: “This partnership is a testament to the incredible journey Gymshark has been on and the hard work of our team. We are excited to have the support of a world-class investor as we continue to build a brand that inspires people to be the best version of themselves.”
The company's revenue has grown substantially, reaching £500 million in 2025, according to industry estimates. Gymshark has also opened physical stores in key markets, including London, New York, and Sydney, and has launched new product lines such as footwear and accessories.
Impact on the Sportswear Market
The deal highlights the increasing interest of private equity firms in the sportswear and athleisure sector, which has seen robust demand during and after the pandemic. Gymshark's success has positioned it as a challenger to established giants like Nike and Adidas, particularly among younger consumers who value authenticity and community.
Industry analysts expect the investment to accelerate Gymshark's international expansion, particularly in the United States and Asia. The company has already made inroads in these regions, but the additional capital could help it compete more aggressively for market share.
Ben Francis's Continued Role
Despite selling a portion of his stake, Francis remains the largest shareholder and will continue to lead the company as CEO. He has been instrumental in shaping Gymshark's culture and strategy, often described as a hands-on founder who is deeply involved in product development and marketing.
Francis, who started the business while studying at university, has become a prominent figure in the UK's entrepreneurial scene. His story of building a billion-dollar brand from scratch has inspired many young entrepreneurs, and he has been recognized with numerous awards, including the Queen's Award for Enterprise.
The deal is expected to close in the coming months, subject to regulatory approvals. Financial terms of the transaction were not disclosed, but sources indicate that the private equity firm paid a premium for the stake, reflecting the brand's strong growth prospects.
